02.06.2015 - Sovereign wealth fund branch's president resigns following stock selloff
Central Hujin Investment, a branch of China's sovereign wealth fund, has announced its president, Xie Zhichun, has stepped down after the company's sale of state bank shares was cited by traders as contributing to the dramatic fall late last week in China's stock markets, Reuters reported, citing a statement posted on the company's website. The firm said Xie would also step down from his position as executive director following approval from the State Council. While it did not give a reason for his departure, the statement came three days after the company sold a total RMB3.5 billion (US$564.5 million) of mainland-listed shares in index heavyweights Industrial and Commercial Bank of China and China Construction Bank....................................Full Article: Source
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